VanEck Agribusiness ETF (NYSEARCA:MOO) Sets New 1-Year High – Here’s Why

VanEck Agribusiness ETF (NYSEARCA:MOO)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $77.76 and last traded at $77.33, with a volume of 425306 shares. The stock had previously closed at $77.46.

VanEck Agribusiness ETF Stock Performance

The company has a market capitalization of $690.20 million, a PE ratio of 19.69 and a beta of 0.88. The firm’s 50-day simple moving average is $73.75 and its 200 day simple moving average is $73.56.

Institutional Investors Weigh In On VanEck Agribusiness ETF

A number of hedge funds and other institutional investors have recently modified their holdings of MOO. IFP Advisors Inc purchased a new position in VanEck Agribusiness ETF in the 3rd quarter valued at approximately $25,000. Geneos Wealth Management Inc. acquired a new stake in VanEck Agribusiness ETF in the second quarter valued at $35,000. GPS Wealth Strategies Group LLC increased its position in shares of VanEck Agribusiness ETF by 55.2% in the third quarter. GPS Wealth Strategies Group LLC now owns 495 shares of the company’s stock valued at $36,000 after buying an additional 176 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of VanEck Agribusiness ETF by 370.4% in the third quarter. Farther Finance Advisors LLC now owns 508 shares of the company’s stock valued at $37,000 after buying an additional 400 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in shares of VanEck Agribusiness ETF during the 2nd quarter worth $53,000.

VanEck Agribusiness ETF Company Profile

Market Vectors Agribusiness ETF (the Fund) replicates as closely as possible the price and yield performance of the DAXglobal Agribusiness Index (DXAG). DXAG, calculated by Deutsche Borse AG, is a modified market capitalization-weighted index consisting of publicly traded companies engaged in the agriculture business that are traded on global exchanges. DXAG provides exposure to companies worldwide that derive at least 50% of their revenues from agriculture business. Companies eligible for inclusion in DXAG should have market capitalization exceeding $150 million; should have worldwide daily average trading volume of at least $1 million over past six months and in each of the past two months, and should have maintained monthly trading volume of 250,000 shares over past six months.